Indian startup Superplum has closed a pre-Series A round of $3.8 million from a group of new and existing investors. The startup stated it has raised a total of $6.8 million since its inception in 2019, from investors, including Steve Jurvetson of Future and former partner of Draper Fisher Jurvetson, Dan Rose of Coatue Ventures. Earlier funding come in from Facebook, Mark Siegel of Menlo Ventures (Uber), Kabir Misra of Softbank, RPS ventures, Curtis Macnguyen of Ivory Capital, Ron Snyder (Flextronics, Crocs, Codigo) and Binny Bansal of Flipkart.
Superplum will use the fresh capital to build farm infrastructure, strengthen its management team, and expand its distribution network.
Shobhit Gupta, Founder and CEO, Superplum, told yourstory.com: “India is the world’s second-largest agriculture market and we produce more than 110 million tons of fruits every year. However, we see broken supply chains, massive wastage gluts, and shortages both geographically and over time. We plan to fix this broken channel with a low-cost, modern supply-chain solution that can ensure fresher and higher quality products across the country.”
Superplum was started by Shobhit Gupta to solve Indian agriculture’s supply chain problems by designing and building an all-new state-of-the-art supply chain and digitising the farm-to-store network. It provides consumers with fresh and fully traceable food that is free of pesticides, and ensures farmers get a better deal.